The U.S. Interior Department on Thursday gave final approval to Ioneer' s Rhyolite Ridge lithium mine in Nevada, the first domestic source of the battery metal to be permitted by President Joe Biden's administration and one that will become a key supplier to Ford and other electric vehicle manufacturers.

Federal officials on Thursday granted final approval to a southwestern Nevada lithium mining project, which they say could supply enough of the resource to power nearly 370,000 electric vehicles

For the first time under President Joe Biden, a federal permit for a new lithium mine in the U.S. has been approved.